FINANCING THE BLUE ECONOMY:A CARIBBEAN DEVELOPMENT OPPORTUNITY

The blue economy comprises economic activities that directly take place in the ocean and seas, or use outputs from the sea

for consumption or as a source of income

In the Caribbean, leveraging the ocean as a natural resource could lead to faster economic growth, improve social inclusion

and protect coastal environments and marine life

CHALLENGES FACING THE BLUE ECONOMY

Gaining regional buy-in to a shifting economic paradigm

Ensuring the informal sector is not excluded

Impacts of natural disasters and climate change

STRENGTHS OF A BLUE ECONOMY STRATEGY

Blue economy industries have driven economic growth in many Caribbean countries

Improved food security and environmental resilience

KEY BLUE ECONOMY OPPORTUNITIES

Fisheries and Aquaculture

Coastal and Marine Tourism

Marine Renewable

Energy

Marine Transport

CRITICAL INPUTS TO GROW THE BLUE ECONOMY

Awareness

Infrastructure

Seed Investment

Policy and Institutions

FINANCING THE BLUE ECONOMY

• Low economic growth• High debt• Low savings• Declining official aid• Increased frequency of natural disasters• Limited fiscal space

CHALLENGES

INNOVATIVE FINANCIAL INSTRUMENTS

• Impact Bonds• Blended Finance• Debt Swaps• Climate Funds• Domestic Levy & Insurance• Crowdsourced Diaspora Financing• Blue Bonds• Contingently Recoverable Grants

COLLABORATION• Private sector participation• Regional approaches• Relentless implementation

ENABLING THE BLUE ECONOMY

REGIONAL POLICY FOR ECONOMIC SHARING

REGIONAL AGENCY FOR OCEAN

GOVERNANCE ANDMANAGEMENT

IMPROVED DOINGBUSINESS

ENVIRONMENT ANDINFRASTRUCTURE

ADVOCACY ANDPARTICIPATORYDEVELOPMENT

REGIONAL KNOWLEDGE HUB